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A massive document leak apparently shows how friends of Vladimir Putin hid about $2 billion in secret, offshore accounts—money that likely ended up benefiting Putin's family, the Guardian reports. The documents from Mossack Fonseca, an offshore law firm in Panama, show wealthy Russians moving money through Russia, Switzerland, and Cyprus in ways that generated vague "consultancy" charges and other payments worth millions of dollars. "This is not business, this is creating the appearance of business in order to continually move and hide assets," says a money-laundering expert. The deals also involve Putin's best friend, cellist Sergei Roldugin—who seems to control at least $100 million in assets—and the Igora ski resort, where Putin is said to reside.

The scheme revolves around a bank that's closely linked to Putin and his allies. The bank, Bank Rossiya, apparently received huge, unsecured loans from Russian state-owned banks and funneled billions into offshore transactions. About $1 billion went through a shell company created by Mossack Fonseca; among other things, the company bought a $6 million yacht and loaned $11.3 million to the owner of the Igora resort. But none of the alleged players have admitted to anything. "Guys, to be honest I am not ready to give comments now," says Roldugin, who mysteriously owns 3.2% of Bank Rossiya. "These are delicate issues." The so-called "Panama Papers" also link other world leaders to Mossack Fonseca shell companies, including Pakistani PM Nawaz Sharif, Ukrainian President Petro Poroshenko, and Icelandic PM Sigmundur Davíð Gunnlaugsson, Gawker reports.

That's good, 61 : 38 Dutch Ukraine (honest, fair) Referendum is turned down the Petro Poroshenko 's - Arseniy Yatsenyuk 's DISHONEST, GUILEFUL, CORRUPT Kiev government is really hurting this Eastern European country's negative growth as long as the bad guy Arseniy Yatsenyuk 's guile PM seat is still occupying; Arseniy Yatsenyuk should resign immediately to resume Yulia Tymoshenko is more compatible with the 2016 (I) US Senator BERNIE SANDERS' policy and / or the 2016 (R) Governor JOHN KASICH's policy. We see Yulia Tymoshenko may consider to make an official visit Mexico and Canada to discuss her free-trade deals to start all over a fresh beginning. Since the proof of Petro Poroshenko's Panama Papers, we the American citizens' asset claims and IMF creditors want our American assets in US Dollar back to Bank of America IMMEDIATELY either Barack Obama administration's FBI is not doing their job to protect the white-collar's corruption and scams.

Myke Hermann

Apr 5, 2016 6:14 AM CDT

Nobody should be surprised that a Russian gangster is hiding money.

tvsgael2

Apr 4, 2016 10:29 AM CDT

This is typical of unrestricted power, with no oversight by anyone. They do the same things we do, except it's our corporations doing the offshore stuff. In our country, it's legal, through loopholes. In Russia, if someone did that who wasn't Putin level powerful, they'd probably be hanged in the square.